Abe to propose big stimulus package

Japanese Prime Minister Shinzo Abe, who just finished hosting the G7 summit, plans to propose a fiscal stimulus package of as much as $90.7 billion after warning G7 leaders that the global economy faces a significant risk of another crisis like that in 2008. Many observers, however, think that his fears are exaggerated.

The proposed stimulus will include accelerating the construction of a magnetic-levitation train line from Nagoya to Osaka, issuing vouchers to boost consumer spending, increasing pay for child-care workers and setting up a scholarship fund. Hit this link.